Published On: Wed, Apr 4th, 2018

Ecobank mobile app reaches 4 million users milestone in Africa

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Araweelo News Network

PRESS RELEASE
Ecobank mobile app reaches 4 million users milestone in Africa
The app builds on the core functionality that saw the original version applauded as a game changer for African banking.

LOME, Togo(ANN)-The upgraded version of Ecobank’s (www.Ecobank.com) revolutionary mobile app has attracted 3 million new customers in just 6 months, taking the total number of users to 4 million.

The app builds on the core functionality that saw the original version applauded as a game changer for African banking by using digital technology to combat many of the financial inclusion barriers faced by those on the continent. This includes the dearth of rural branches, affordability of products, high transaction costs and minimum opening balance requirements.

Ade Ayeyemi, Ecobank Group CEO, says Ecobank’s strategic mission is built around using mobile banking to deliver innovative, efficient and cost-effective services to those who have typically sat outside of the formal economy, and therefore goes far beyond the reach of the traditional branch and ATM networks. Subsequently, while the app won one million customers in its first year of launch, upgraded features have seen the rate of sign-ups treble in half of the time. So far this year, app usage has been growing at an average 700k new customers per month.

“Customers can use the app on their mobile to instantly open Ecobank Xpress Account™, which doesn’t have any account fees, paperwork or minimum balance requirements, or to send and receive money across 33 African countries,” he explains. “Therefore, our app not only removes the barriers that have financially excluded so many Africans but offers next generation functionality to help them send money, make withdrawals or pay for goods and services.”

Patrick Akinwuntan, Ecobank’s Group Executive, Consumer Banking, says that Ecobank is committed to providing all Africans with access to financial services, but doing so in a way that conjoins functionality with convenient, accessible and efficient banking channels, such as the rollout of Ecobank Xpress ™ Point Agents.

“We want to be the digital bank of choice for all Africans,” he said. “Functionality is one thing – giving our customers unrivalled convenience is another. The Ecobank Xpress ™ Point Agents that can now be found in your local neighbourhood enable you to deposit money into your app-based Ecobank Xpress Account™ and begin to make digital payments on the app using Ecobankpay. You can also withdraw funds in local currency that may have been sent to you from friends or relatives using our innovative instant transfer or Xpress Cash capabilities.”

The Ecobank Mobile App is available for download from the Google Play Store or Apple Store.

Distributed by APO Group on behalf of Ecobank.
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Media Contact:
Mireille Bokpe-Anoumou
Group Communications
Email: MBokpe@Ecobank.com

About the Author

- Arraale Mohamoud Jama Freelance Journalist and Human Rights Activist Arraale, is a 20 year experience as a professional Journalist and human rights activist Over the years, worked for the major News Papers in Somaliland as a reporter, editor and contributor. 2008 established website Araweelo News Network, he currently runs a web site based in Somaliland. who is the specializes in the investigation and reporting on issues relating to human rights, democracy, and good governance. contact: Info@araweelonews.com jaamac132@gmail.com Send an SMS or MMS to + 252 63 442 5380 WhatsApp + 252 65 910 7347.

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Araweelo is an Associated Network News, The most trusted source for news & Political,investigator report,Human Rights Issues,Educations,Social and Democracy ,Latest News Horn of Africa. runs Arraale Mohamoud Jama Freelance Journalist and Human Rights Activist based in Somaliland.

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